Kanden Audit & Supervisory Board Received an internal investigation report and concluded that it was “generally appropriate” Oct. 4:13:02
Kansai Electric's executives and others have received over 300 million yen in the receipt of money items, but the Kansai Electric Power Audit & Supervisory Board, which is responsible for overseeing the management team, received a report from an internal survey last fall. I understood that he concluded. The board of directors did not even report internal investigations, highlighting the fact that the corporate governance system was not functioning.
Kansai Electric Power held a press conference on the 2nd, and revealed that 20 executives and other executives received cash equivalents of approximately 320 million yen, including cash and gold coins, from former assistants in Takahama Town, Fukui Prefecture.
This became clear as a result of an internal investigation conducted by a committee of outside lawyers from July to September last year.
According to the officials, Kansai Electric Power reported the survey details to the standing corporate auditor on October 1, last year, and then shared it with the board of corporate auditors, including external auditors.
And it turned out that it was concluded that the content was not illegal and was generally valid.
Audit & Supervisory Board members are in a position to monitor the management team, and are independent from directors under the Companies Act.
In addition, it has already become clear that the Board of Directors has not even reported internal investigations and has not been consulted by internal compliance committees.
The fact that the Kansai Electric Power governance system, which has a high public interest, was not functioning will be highlighted, and criticism of the corporate structure is likely to increase.